Zefiro Methane Acquires $4.3M Equipment, Boosting Footprint to 13 States
Zefiro Methane acquired Viking Well Service equipment for $4.3 million—$1.4 million cash and a $2.9 million 7% interest seller note—adding five derrick rigs and two snubbing units. This expands Zefiro’s footprint from four to 13 states and is forecast to drive over $10 million in annual revenue.
1. Acquisition Details
Zefiro Methane’s subsidiary closed the $4.3 million purchase of Viking Well Service equipment on May 6, financed with $1.4 million cash and a $2.9 million seller note at 7% interest. The assets include five derrick rigs, two rig-assist snubbing units and associated trucks, trailers, pumps and power swivels.
2. Geographic Expansion
The transaction expands Zefiro’s operational footprint from four states to 13, adding presence in New Jersey, Michigan, Indiana, Illinois and Iowa while deepening coverage in Ohio, Pennsylvania, New York and West Virginia.
3. Revenue and Strategic Impact
Management projects the new equipment will generate over $10 million in annual revenue, potentially doubling the Exploration & Production customer base and diversifying client concentration across a broader region to strengthen top- and bottom-line growth.